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Capital One (COF) Q4 Results Fall Short, Stock Takes Dive

January 17, 2013 5:02 PM EST Send to a Friend
Shares of Capital One Financial Corp. (NYSE: COF) traded lower in after-hours trading Thursday after the company reported Q4 results that fell short of expectations. CEO Gary L. Perlin blamed seasonal patterns and margin trends which led to a reduction in Q4 earnings compared to the previous quarter.

Capital One Financial reported revenue of $5.62 billion versus the consensus estimate of $5.88 billion. In 2011, the company reported revenue of 4 billion. Quarter-over-quarter, revenue declined from $5.78 billion.

EPS came in a $1.41, $0.20 worse than the analyst estimate of $1.61. This was due in part to increased operating expenses of $2.9 billion in the fourth quarter, an increase of $133 million, or 5 percent, driven by "higher year-end expense patterns and somewhat higher integration expenses". Marketing expense increased $77 million in the quarter to $393 million

Shares of Capital one traded lower by 7 percent late on Thursday.




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